Electric Actuator Market Size, Share and Industry Analysis | Business Statistics, Key Market Players, Top Impacting Factors, Opportunities and Revenue - 2026
The electric actuator market growth is majorly driven by increase in demand from oil & gas industry, as oil & gas industry is experiencing an increase in requirement of electric linear actuators, growth in water and wastewater treatment industry, and increase in safety measurements in industries.
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Furthermore, electric actuator finds their application from the extraction of crude oil & gas till it reaches the end customers through refinery and oil terminals and depots, wherein increase in investment in the oil & gas industry in emerging economies is expected to provide lucrative opportunities to the electric actuator manufacturers companies.
Thus, growth in automation for industrial process is also expected to boost the growth of the electric actuator industry. However, rise in adoption of electric actuator in commercial and defense aircraft is expected to provide growth opportunities for the market.
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The oil & gas sector is tremendously growing over the past few years with the discovery of oil & gas reserves worldwide. The electric actuators are needed in the oil & gas sector from the upstream exploration and production to midstream transmission and downstream refining. The demand for linear actuators in the oil & gas sector is much higher according to the forecast.
The Middle East nations that are major oil producing countries are driving the electric actuator market for oil & gas segment. Furthermore, new oil and gas exploration activities coupled with heavy investments in pipelines and refineries in the Americas, the Middle East, Africa, and APAC are the major factors that influence the market growth. Moreover, rise in exploration and production of oil and gas is expected to create lucrative opportunity for the electric actuator market.
As the demand for electric actuator is growing, global players such as Flowserve, Emerson, and others have established facilities for manufacturing, engineering, sourcing, and marketing of electric actuator in developing economies such as India and others. These actuator suppliers are competing with domestic suppliers such as Bawana Engines & Machines Private Limited and MIL Controls.
Domestic manufacturers in India now produce a range of electric actuators to the global standards. Thus, India can emerge as a leading manufacturer and exporter for electric actuator. Because India's economy is driven by domestic consumer demand, recession is less likely, and suppliers of actuator should maintain steady growth.
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Key Findings of the Study:
1. Based on product type, the linear actuators segment generated the highest revenue in the global electric actuator market in 2018.
2. Based on industry vertical, the aerospace & defense segment generated the highest revenue in the global electric actuator market share in 2019.
The key players operating in the market include Emerson Electric Co., Flowserve Corporation, Curtiss-Wright Corporation, ABB, Rotork, General Electric, AUMA Riester GmbH & Co. KG, Moog Inc, Ewellix, and Actuonix Motion Devices. These key players adopt several strategies such as new product launch and development, acquisition, partnership and collaboration, and business expansion to increase the global electric actuator market share during the forecast period.
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Electric Actuators Market, By Type
Chapter 5: Electric Actuator Market, By Industry Vertical
Chapter 6: Electric Actuator Market, By Region
Chapter 7: Competitive Landscape
Chapter 8: Company Profiles
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